5 Trade Ideas for Monday: Salesforce, Interactive Brokers, Intuitive Surgical, Tiffany & Zoetis

• Posted by Greg Harmon
• on May 6th, 2018

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Salesforce.com, Ticker: $CRM

Salesforce.com, $CRM, moved steadily higher out of consolidation in August, continuing higher with tests at the 20 day SMA along the way. It made a top in March and pulled back through the 20 day SMA but then rose to a lower high. Another pullback to a higher low and it reversed to move back to the recent top. The RSI rising in the bullish zone with the MACD positive and moving up. Look for a push over the prior high to participate to the upside…..

Interactive Brokers, Ticker: $IBKR

Interactive Brokers, $IBKR, had a strong run higher from June last year until making a top in March. It pulled back through the 20 day SMA from there to a low at the start of April before another leg higher to a slightly higher high a few weeks ago. It has consolidated there since. The RSI is in the bullish zone with the MACD trying to cross up again. Look for a push through resistance to participate higher…..

Intuitive Surgical, Ticker: $ISRG

Intuitive Surgical, $ISRG, had a strong earnings report and the stock gapped higher 3 weeks ago. It then pulled back, filling the gap, and bounced. It settled there for a week before starting higher again Friday. The RSI is rising in the bullish zone with the MACD turning up after avoiding a cross. Look for continuation to participate higher…..

Tiffany, Ticker: $TIF

Tiffany, $TIF, broke above consolidation in December and ran to a high at the end of January. It punctuated it with a Shooting Star reversal and price eventually fell back below the 200 day SMA. Last week it had pushed up to resistance but failed to move above it and pulled back to a higher low. It is moving up toward resistance again with the RSI bullish and rising along with the MACD positive and moving higher. Look for a push through resistance to participate higher…..

Zoetis, Ticker: $ZTS

Zoetis, $ZTS, started moving higher at the beginning of the year. It paused along the way, most recently over support at 80. It gapped down last week following earnings and has started working back higher. The RSI is turning back up with the MACD now negative. Look for continuation to participate higher…..

Up Next: Bonus Idea

The Best

If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above.

After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which as May begins sees the equity market continuing to move sideways in consolidation without any energy, but a slightly improving picture.

Elsewhere look for Gold to hold or bounce off of support in its range while Crude Oil continues higher. The US Dollar Index continues to show strength in the short term moving higher while US Treasuries are consolidating at a lower high, a possible Dead Cat Bounce. The Shanghai Composite is consolidating in a downtrend clinging to support while Emerging Markets continue to retrench in the uptrend.

Volatility looks to remain low and more stable taking pressure off of the equity index ETF’s SPY, IWM and QQQ. Their charts all ended the week stronger on the shorter timeframe and in consolidation near the top on the longer timeframe. In the short term the QQQ and IWM look a bit stronger than the SPY. Use this information as you prepare for the coming week and trad’em well.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

blog comments powered by Disqus